Lisk (LSK) ranks among the top 3 on China’s first public blockchain assessment result

Lisk (LSK) may be in for a bumper time after the Chinese New Year following its high ranking on the just-released first global public-owned chain technology assessment index. The ranking which was announced by the Ministry of Industry and Information Technology puts Ethereum on top, followed by Steem and then Lisk.

According to local news outlets in China, the 3rd spot puts Lisk ahead of popular regional platforms like NEO. In the first evaluation that focuses on public blockchains, the crypto comes at a time when the crypto industry would do anything to get positive feedback like that. And it may be the spark that was missing to make Lisk gain considerable traction in a region with a lot of Cryptocurrency following.

The ranking conducted in conjunction with several other institutions, researchers used a number of yardsticks to determine the indexes. These were basic technology, highest applicability, and powerful innovation.

According to the site ccid.net, “…The evaluation of the global public-owned chain technology was organized and implemented by the CCID (Qingdao) Blockchain Research Institute, jointly with the CCID think-tank and the China Software Testing Center under the China Electronics and Information Industry Development Research Institute…” (Google translation)

Steem scored the highest in basic technology, at 82.6 due to its delegated proof of stake consensus and a high network throughput. NEO ranked the best for its applicability- its smart contract functionality ranked even higher than Ethereum. Finally, Bitcoin is placed first as the leader in blockchain innovation.

While LISK hasn’t been determined the best in any of the three categories, its high scores make it appear near the top of the ranking. Though it may not carry any immediate effect on the coin, it could be productive in the long run, especially in the perception of new investors looking for worthy investments.

The news led to excitement in the Lisk social platforms, with one user on Reddit saying:

“I have been quietly accumulating Lisk since March 2017. I cannot wait for the inevitable explosion of growth that will happen when the SDK is released and developers start their own side chains. Those who have sold through all the drama will be sorely disappointed at their oversight and lack of patience. Ready for Liskoff!”

The veracity of the news has however raised some doubts, with many in the social media questioning the ranking as shown for the coins in 16th to 28th.

Meanwhile, the ranking fete comes as the Lisk team continues to post good showings at two crucial events on their calendar. It has been a good week for the Lisk teams at this year’s Consensus 2018 in New York and at We Are Developers in Vienna. These events are great platforms that have accorded the team a chance to showcase what the Lisk project is all about.

Lisk prices and market

The decline in the market continued to bite as crypto assets failed to master momentum towards recovery for the 4th day running this week. Lisk (LSK) is among the handful that has seen a slight upturn in the last 24 hours, trading at +8.8% higher over its value from the previous day. Its currently trading at $10.94 against the USD, a dip compared to its value 7 days ago when it traded at $12.45.

Significantly, the slight upside movement might be crucial in stopping a dip under $10.00 as it nearly did a day ago. Another positive is a slight improvement in the daily trading volume where the $21 million worth of LSK traded is just under 45% higher from yesterday’s volume.

The short-term outlook is still with a downtrend, though beyond May there might be a gradual upturn as the leading coins rally.